Due to its high income, UAE bonds are outside the JP Morgan Emerging Markets Index

JP Morgan Bank announced the gradual exclusion of UAE bonds from its emerging market sovereign bond indices.

J.P. Morgan explained yesterday that the decision comes in light of the high levels of income in the UAE.

The bank explained that the economic developments witnessed by the UAE during recent years led to it exceeding the three main criteria approved for exclusion from the indicators, which are the per capita gross national income, the cost of living, and the credit rating, for three consecutive years, which reflects its move to a higher economic category.